Kennedy Capital Management LLC Has $23.98 Million Holdings in AdaptHealth Corp. $AHCO

Kennedy Capital Management LLC increased its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,408,038 shares of the company’s stock after purchasing an additional 317,900 shares during the period. Kennedy Capital Management LLC owned approximately 1.78% of AdaptHealth worth $23,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in AdaptHealth in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. lifted its position in AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after buying an additional 1,279 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares in the last quarter. Tidal Investments LLC bought a new stake in AdaptHealth during the 2nd quarter worth about $96,000. Finally, CIBC Bancorp USA Inc. bought a new stake in AdaptHealth during the 3rd quarter worth about $97,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AHCO has been the topic of several analyst reports. Wall Street Zen raised shares of AdaptHealth from a “hold” rating to a “buy” rating in a research report on Sunday. Canaccord Genuity Group boosted their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. UBS Group cut their price target on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Truist Financial boosted their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Robert W. Baird set a $18.00 price target on shares of AdaptHealth in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

AdaptHealth Stock Up 0.6%

Shares of AHCO stock opened at $10.16 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.71 and a current ratio of 0.92. The firm’s 50-day moving average is $11.34 and its 200-day moving average is $10.57. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -16.39, a PEG ratio of 0.52 and a beta of 1.47. AdaptHealth Corp. has a 52-week low of $8.06 and a 52-week high of $13.43.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm had revenue of $819.80 million during the quarter, compared to the consensus estimate of $796.63 million. AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. Sell-side analysts predict that AdaptHealth Corp. will post 0.44 EPS for the current year.

Insider Activity

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider directly owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the acquisition, the insider owned 16,312,698 shares in the company, valued at approximately $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.95% of the stock is owned by corporate insiders.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.